Stocks to Watch: Reliance Industries, HDFC, Tata Motors, Adani Enterprises
2 min read 20 Mar 2023, 07:33 AM ISTIndiabulls Housing Finance and GNFC remain on the F&O ban list for 20 March. Securities banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.
PremiumNew Delhi: Here is the list of top 10 stocks that could be in focus in Monday's trade:
Reliance Industries: Reliance Industries Ltd and its partner bp plc have re-launched an auction for sale of natural gas from their eastern offshore KG-D6 block after incorporating the government's new marketing rules to give CNG-selling city gas companies first priority over supplies. Reliance and its partner BP Exploration (Alpha) Ltd (BPEAL) will sell 6 million standard cubic meters per day of gas in an e-auction planned for 3 April.
HDFC: The Reserve Bank of India has imposed a penalty of ₹5 lakh on the company for non-compliance with certain housing finance directions issued by the National Housing Bank (NHB). The corporation's subsidiary HDFC Capital Advisors entered into a share subscription agreement for the acquisition of 3,59,436 compulsorily convertible preference shares (CCPS) of Enviro Enablers India, which is engaged in waste management services.
Tata Motors: Has upgraded its passenger vehicle portfolio to conform to stricter emission norms while Maruti Suzuki India and Mahindra & Mahindra are confident of transitioning their respective product range before the 1 April deadline. The Indian automobile industry is currently working to make their products meet the second phase of Bharat Stage VI, equivalent to Euro-VI emission norms, in real-time driving conditions.
Adani Enterprises: Has suspended work on ₹34,900 crore petrochemical project at Mundra in Gujarat as it focuses on resources to consolidate operations and address investor concerns following a damning report by a US-based short seller. Adani Enterprises Ltd (AEL) had in 2021 incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd, for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in Kutch district of Gujarat.
Tata Consumer Products: The company has ceased negotiations with Bisleri on a potential transaction and confirmed that it has not entered into any definitive agreement or binding commitment on this matter. In November last year, the company had said it evaluated various strategic opportunities for growth and expansion of its business, and pursuant to this, the management remained in discussions with various parties, including Bisleri International.
Federal Bank: Has approved the issuance of unsecured basel III compliant tier-II subordinate bonds amounting up to ₹1,000 crore on a private placement basis.
Rail Vikas Nigam: Has emerged as the lowest bidder for a composite contract package in connection with the new BG railway line of HORC project by Haryana Rail Infrastructure Development Corp. The cost of the project is estimated at ₹1,088.49 crore and it is expected to be executed within 1,460 days.
Torrent Pharmaceuticals: The US Food and Drug Administration conducted a pre-approval inspection (PAI) of the company's oral-oncology manufacturing facility in Gujarat during 13-17 March, and issued a 'Form 483' with one observation, which is procedural in nature.
Biocon: Foreign portfolio investor Ahan-I sold 1.89 crore equity shares or 1.57% stake in the company via open market transactions at an average price of ₹200.74 per share.
DLF Ltd: Thee Realty major plans to invest around ₹3,500 crore over the next four years to construct a new luxury housing project in Gurugram as it seeks to tap strong demand for residential properties.
